ServiceNow, Inc. (NYSE:NOW) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,167 shares of the information technology services provider's stock after selling 43,950 shares during the quarter. Bessemer Group Inc.'s holdings in ServiceNow were worth $100,888,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the 4th quarter worth $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow during the 4th quarter worth about $34,000. FPC Investment Advisory Inc. raised its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial lowered their price objective on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Mizuho lowered their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Needham & Company LLC lifted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,068.76.

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ServiceNow Price Performance

Shares of NYSE NOW traded up $6.21 during trading on Monday, hitting $791.88. 627,186 shares of the company were exchanged, compared to its average volume of 1,463,843. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a market cap of $163.92 billion, a price-to-earnings ratio of 115.94, a PEG ratio of 4.51 and a beta of 1.08. The firm's fifty day moving average price is $875.51 and its 200 day moving average price is $973.89.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company's stock.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.